Ecovyst Inc. $ECVT Shares Sold by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. has reduced its stake in Ecovyst Inc. by 7.6%, owning approximately 1,998,169 shares after selling 164,965 shares in the second quarter.
• Several institutional investors significantly increased their holdings in Ecovyst, with Versant Capital Management Inc. growing its stake by 200.7% and GAMMA Investing LLC by 11,312.2% in the first quarter.
• BMO Capital Markets raised its price target for Ecovyst from $10.00 to $14.00, while other analysts have rated the stock with a current average rating of "Buy" and an average target price of $11.67.

Harbor Capital Advisors Inc. reduced its stake in Ecovyst Inc. (NYSE:ECVT - Free Report) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,998,169 shares of the company's stock after selling 164,965 shares during the quarter. Ecovyst comprises approximately 0.7% of Harbor Capital Advisors Inc.'s holdings, making the stock its 16th largest position. Harbor Capital Advisors Inc. owned 1.70% of Ecovyst worth $16,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ecovyst by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,231 shares of the company's stock worth $506,000 after acquiring an additional 2,325 shares during the last quarter. AlphaQuest LLC raised its holdings in Ecovyst by 60.1% in the 1st quarter. AlphaQuest LLC now owns 9,042 shares of the company's stock worth $56,000 after acquiring an additional 3,396 shares during the last quarter. Versant Capital Management Inc raised its holdings in Ecovyst by 200.7% in the 1st quarter. Versant Capital Management Inc now owns 5,227 shares of the company's stock worth $32,000 after acquiring an additional 3,489 shares during the last quarter. Royal Bank of Canada raised its holdings in Ecovyst by 8.6% in the 1st quarter. Royal Bank of Canada now owns 45,069 shares of the company's stock worth $279,000 after acquiring an additional 3,571 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Ecovyst by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 372,061 shares of the company's stock worth $2,307,000 after acquiring an additional 4,293 shares during the last quarter. 86.69% of the stock is currently owned by hedge funds and other institutional investors.

Ecovyst Trading Down 1.9%

Ecovyst stock traded down $0.18 during trading on Friday, hitting $9.18. The company had a trading volume of 3,871,034 shares, compared to its average volume of 1,719,938. The company has a current ratio of 2.25, a quick ratio of 1.69 and a debt-to-equity ratio of 1.22. Ecovyst Inc. has a 1-year low of $5.24 and a 1-year high of $9.69. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -76.50, a price-to-earnings-growth ratio of 4.18 and a beta of 1.24. The company's 50 day simple moving average is $8.88 and its 200-day simple moving average is $7.68.

Ecovyst (NYSE:ECVT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.12 earnings per share for the quarter, meeting analysts' consensus estimates of $0.12. Ecovyst had a negative net margin of 1.91% and a positive return on equity of 7.69%. The business had revenue of $200.10 million for the quarter, compared to analyst estimates of $204.27 million. During the same period last year, the business earned $0.12 EPS. The company's revenue was up 9.5% on a year-over-year basis. Ecovyst has set its FY 2025 guidance at 0.520-0.680 EPS. As a group, analysts expect that Ecovyst Inc. will post 0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Ecovyst from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. BMO Capital Markets increased their price objective on shares of Ecovyst from $10.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, September 12th. Finally, BWS Financial restated a "buy" rating and set a $12.00 target price on shares of Ecovyst in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ecovyst currently has a consensus rating of "Buy" and an average target price of $11.67.

Ecovyst Profile

Ecovyst Inc offers specialty catalysts and services in the United States and internationally. The company operates in two segments, Ecoservices and Advanced Materials & Catalysts. The Ecoservices segment provides sulfuric acid recycling services and end-to-end logistics for production of alkylate for refineries; and virgin sulfuric acid for mining, water treatment, and industrial applications.